Here is why, and Wisconsin is hardly unique:
https://madison.com/wsj/news/local/...gn_1116119&cid=db&source=ams&sourceId=3265431
UW-Madison anticipates a $100 million loss because of the COVID-19 pandemic that has thrown its campus into chaos as dorms are emptied, classes moved online and students told to stay away.
Chancellor Rebecca Blank said the $100 million estimate represents how much the university would lose if life largely returns to normal by June, a timeline that is up in the air as scientific models continue to shift depending on the public’s compliance with social distancing.
...
“My expectation is there’s going to be a number of schools going out of business as a result of this,” she said, adding that she hoped none of the closures were within the University of Wisconsin System.
System spokesman Mark Pitsch said Monday he had no estimate for the collective financial loss of its 26 campuses, some of which were grappling with multimillion-dollar deficits before the coronavirus even emerged. UW-Milwaukee
announced Friday that a hiring freeze is in effect and voluntary separation agreements plans are canceled.